Business community demands tax and tariff cuts in budget 2017-18

Business community demands tax and tariff cuts in budget 2017-18

Pakistan Business Community Demands


(Special Correspondent)

GUJRANWALA: The federal government is expected to announce budget for the financial year 2017-18 on May 26th. The business community of Gujranwala has presented recommendations for the betterment of trade and industry.

Ikhkaq Ahmed Butt says

Former President of Gujranwala Chamber of Commerce and Industry (GCCI) Ikhlaque Ahmed Butt has attributed country’s economic growth to the ample supply of electricity and said that economy cannot perform well amid prolong power outages.

He demanded the government not only to concentrate on energy projects but also to bring down power tariff.

Shaikh Naseem Ahmed says

Former GCCI President Shaikh Naseem Ahmed has urged the government to cut duties on raw materials.

“Lower duties on raw material would encourage local industry to produce their products and the factories would become price competitive in the international markets,” he remarked.

Shaikh Naseem Ahmed was of the view that effectiveness of budget can be enhanced by taking business community on board.

Rana Shahzad Hafeez says

Former GCCI President Rana Shahzad Hafeez was not very much optimistic about the upcoming budget. He said that people-friendly budget cannot be expected from the government.

“I believe that this fiscal year (FY18) too, the federal and provincial budgets would prove to be the jugglery of words,” Rana Shahzad Hafeez added.

Rana Nasir Mehmood says

Former GCCI President Rana Nasir Mehmood thinks that a common man and the businessmen cannot be facilitated until the government abolishes Withholding Tax (WHT) and lower sales tax (ST) rate.

He advised the government to take concrete steps to boost industrial growth and curtail its expenditures.

Najam Rauf says

Managing Director of Golden Pumps Najam Rauf stressed upon the government to take measures in the upcoming budget to encourage export-oriented industries.

“The government must raise the rate of rebate and exempt export-oriented industries from taxes,” he said adding that these measures would improve the confidence of businessmen and help exporters compete in the world’s markets.

Babu Aqeel Ahmed says

Chairman of Citizen Plastic Industries Babu Aqeel Ahmed said that the upcoming budget should focus more on to facilitate taxpayers.

“Taxpayers are facilitated anywhere in the world, however, it is unfortunate that they are not treated gently in Pakistan,” Babu Aqeel Ahmed deplored.

Adeel Ahmed says

Managing Director of Citizen Plastic Industries Adeel Ahmed said that the energy crisis had badly hit the industrial growth and the government must focus on to bridge demand and supply gap.

He also called for providing tax incentives to the business community so that businesses could be flourished.

Mian Waqas Anwar says

Chief Executive of Anwar Group of Industries, Mian Waqas Anwar that no country can progress without facilitating industrial sector.

“Private sector should be given such incentives that it could perform well and create more jobs,” Mian Waqas Anwar added.

Faisal Afzal says

Managing Director of Super Asia Group, Faisal Afzal was of the view that upcoming budget would definitely put an impact on the 2018 general elections.

“I advise government to take business community onboard and their recommendations must be incorporated in making budget,” he added.

Imtiaz A. Hameed and Zia A. Hameed say

Executive Directors of Climax Engineering Company Imtiaz A. Hameed and Zia A. Hameed has called for tax exemption for the industrial sector.

“If the industrialists are facilitated, more employment would be created and the business community would contribute effectively to the economic development of the country,” they added.

Saqib Ghafoor says

Leader of traders community, Saqib Ghafoor said that the government must widen tax net and the those who are paying taxes, must be treated with dignity.

Nadeem Khokhar says

Chief Executive of Safa Traders Nadeem Khokhar has said the next budget must address the problems of the domestic industries.

“The government must devise a comprehensive strategy to promote locally manufactured products,” Nadeem Khokhar mentioned and added that smart foreign exchanged can be fetched by enhancing domestically produced goods’ exports.

Naseem Shahid says

Managing Director of Asli Punjab Pumps Naseem Shahid the real economic growth can be achieved by flourishing small and medium size businesses.

“I expect the government would emphasize on the development of small and medium enterprises in the upcoming budget,” he added.

Naseem Shahid said the unemployment can be reduced by supporting local industry.

Hafiz Zahid says

Managing Director of Decent Motors Hafiz Zahid said that higher taxes have doubled the burden on masses and the industrial sector direly needs tax cuts.

“The industrialists would be compelled to move their units to other countries if they do not find solution to energy crisis and rising cost of doing business,” he mentioned.

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